Four Days After Predicting Oil Will Double, T. Boone Pickens Sells All Oil Holdings

Earlier today, literally days after he predicted oil would double from its $26 "bottom", Pickens told Bloomberg that he has cashed out.

Four Days After Predicting Oil Will Double, T. Boone Pickens Sells All Oil Holdings

This is the concept of deflation. The expectation that prices tomorrow will be cheaper than today.

It stalls buyers from purchasing & investors from investing.

When the wealthiest take it on as an investment strategy - buy gold & wait.